The Purpose of a Pilot Study Is to

question 39

Multiple Choice

The purpose of a pilot study is to

• A) help the researcher decide if the study is feasible.
• B) assess the appropriateness and practicality of the data-collection instruments.
• C) provide experience in finding solutions to unanticipated problems.
• D) all of these are true.

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Definitions:

Deadweight Loss

A loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved.

Market Equilibrium

The state in which the supply and demand for a good or service are balanced, leading to a stable price.

Consumer Surplus

The variance between the total price consumers are ready and able to fork over for a good or service and the sum they ultimately pay.

Deadweight Loss

A loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved or is not achievable.